Italy Consumer Confidence August 2016

Italy: Consumer confidence weakens in August

August 29, 2016

The National Institute of Statistics’ (Istat) consumer confidence index decreased from July’s revised 111.2 (previously reported: 111.3) to 109.2 in August, undershooting market expectations of a 110.5 reading and marking the worst result since July 2015.

August’s reading reflected a deterioration in households’ assessments of their personal current and future economic situations. Moreover, households’ valuation of the current and future general economic situation also deteriorated, with the latter tallying a 20-month low.

Panelists expect private consumption to expand 1.2% in 2016, which is unchanged from last month’s forecast. For 2017, panelists see private consumption growing 0.9%.

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According to revised data released by the National Statistical Institute (ISTAT) on 14 December, consumer prices dropped a revised 0.2% month-on-month in November (previously reported: -0.1% month-on-month), following October’s flat reading.

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